Limbaugh: Obama's Jobs Bill 'Is Dead'

The 27 states that must start paying back federal loans taken out to fund a government-mandated, unemployment compensation extension undoubtedly will have to tax private businesses in order to come up with the money, Rush Limbaugh said Tuesday.

The talk show host pointed to an Associated Press story about a printing-company owner in Moorestown, N.J., who said he will have to shell out and additional $24,000 in unemployment-insurance taxes this year.

Limbaugh also said President Barack Obama’s American Jobs Act is not a legitimate way to reduce the nation’s skyrocketing unemployment.

Obama is traveling the nation touting his jobs bill — a $447 million spending package that includes a $1,500 tax cut for U.S. families; incentives for employers to hire new workers; $50 billion in government infrastructure money, and $10 million to seed an infrastructure bank.

Paying for it also includes a controversial tax increase on the wealthy.